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and tweeted, "how can barack obama call the proposal a debt reduction pack knowledge it uses tax increase to fund more spending and it increases the debt?" boehner is getting more cut over the fight over the debt creeling that expires in two months. white house aides think it could backfire, an advisor admitted it would be ugly. telling fox we're about to enter 60 days of nastiness. i'm told the president has not spoken to speaker boehner since last friday when they had the summit of leaders here at the white house. the significance of that is that boehner made absolutely no promise to the president he is going to pass the legislation. let alone even bring it up. bret? >> bret: ed, you know, we talked a little bit about the timeline here. the new congress comes in thursday. at noon. so essentially, this senate bill has an expiration date of thursday at noon. at that point, they have to scrap the effort and start all over again. >> that's right. it's essentially the new fiscal cliff, that deadline. every piece of legislation passed by the house or the senate over the last two years complet
and tweeted, "how can barack obama call the proposal a debt reduction pack knowledge it uses tax increase to fund more spending and it increases the debt?" boehner is getting more cut over the fight over the debt creeling that expires in two months. white house aides think it could backfire, an advisor admitted it would be ugly. telling fox we're about to enter 60 days of nastiness. i'm told the president has not spoken to speaker boehner since last friday when they had the summit of...
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it will amount toll $25.4 trillionthat's we will call at obama wins. a r the national media waiting forii that one. that is what will be. it will be a really dramaticis s scene. i want to show you exacy how changes. speaker boehner wants, oh, yeah? he is going to kick some tail. we are going to get to point you leally in dollars and the spending of this country.that'l let me rephrase that. total a $2.2 trillion reduction in thf total plan spending. we are looking at the republican plan. we will show you just how tough it is. the only difference is how we get there. mr. obama wants one thing and mr. boehner once another.see and weill see a knockdown drag out fight any big dramatic of negotiation. what you and i and all americans are looking at is the prospect of a recession next year if thed president and mr. boehner can't come to areement. as much as a 10% unemploymenttyn rate, because both as president and republican parties parties, as you can seema here, they aret playing at the margin in thecust tional media is not focusing washit the reality is. t
it will amount toll $25.4 trillionthat's we will call at obama wins. a r the national media waiting forii that one. that is what will be. it will be a really dramaticis s scene. i want to show you exacy how changes. speaker boehner wants, oh, yeah? he is going to kick some tail. we are going to get to point you leally in dollars and the spending of this country.that'l let me rephrase that. total a $2.2 trillion reduction in thf total plan spending. we are looking at the republican plan. we will...
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he didn't get the debt ceiling increase incorporated into the agreement so that is something that is going to have to come up again in two months. republicans managed to contain the tax increases to half of what president obama had asked speaker boehner for. only about $600 billion. so everyone has a chance to say they won or lost. the important thing i think here is that they all have a shot at this again in two months and so boehner can say to his republicans, you know, we have a chance for more leverage with debt ceiling debate and also the spending cuts debate that's coming up in two months. and obama can tell his people we're going to stand firm and go for that next $600 billion -- you know, $600 billion in tax increases. maybe tax reforms. everyone has an argument to make in the future and i think that is probably why this is going to pass. >> all right. we'll leave it at that. thank you very much. again, happy new year to you. >> thank you. >> coming up at 10:30 a.m. i'll talk to republican congressman tom cole. straight ahead, sending well wishes to hillary clinton. we'll hav
he didn't get the debt ceiling increase incorporated into the agreement so that is something that is going to have to come up again in two months. republicans managed to contain the tax increases to half of what president obama had asked speaker boehner for. only about $600 billion. so everyone has a chance to say they won or lost. the important thing i think here is that they all have a shot at this again in two months and so boehner can say to his republicans, you know, we have a chance for...
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to negotiate on the debt ceiling. he said at the beginning of this that this deal would produce a long-term deal with the debt ceiling. he budged -- >> my apologies, i do have to interrupt you, we have to go to a break. half of the cycle, on msnbc, you are watching live coverage of the fiscal cliff talks on "msnbc." gh. ♪ doing it with a cold, just not going to happen. vicks dayquil -- powerful non-drowsy 6-symptom cold & flu relief. ♪ no matter what city you're playing tomorrow. [ coughs ] [ male announcer ] you can't let a cold keep you up tonight. ♪ vicks nyquil -- powerful nighttime 6-symptom cold & flu relief. ♪ 6-symptom cold & flu relief. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chills- the flu's a really big deal. so why treat it like it's a little cold? there's something that works differently than over-the-counter remedies. prescription tamiflu attacks the flu virus at its source. so don't wait. call your doctor right away. tamiflu is prescription medicine for t
to negotiate on the debt ceiling. he said at the beginning of this that this deal would produce a long-term deal with the debt ceiling. he budged -- >> my apologies, i do have to interrupt you, we have to go to a break. half of the cycle, on msnbc, you are watching live coverage of the fiscal cliff talks on "msnbc." gh. ♪ doing it with a cold, just not going to happen. vicks dayquil -- powerful non-drowsy 6-symptom cold & flu relief. ♪ no matter what city you're playing...
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guest: obama has not address the debt ceiling. this was another thing he was going to do. it.not when --he didn't win you have done the revenue and change the estate tax. that is done. you are going into the negotiations without many avenues. there will not negotiate on the debt ceiling. sherrod brown said they were going with tit. whitehouse said the same thing earlier. obama said they want an end to the high jinks. host: what is your take on president obama's role in negotiating so far? guest: i think he has a strong impulse to reach a deal. his priorities to reaching a deal is surpassing his desire to stand up for progressive principles. to protect parts of the government from harmful cuts that would hurt a lot of regular americans. host: republicans saw his news conference as unusual. john mccain said he should not know if he should be mad or sad. guest: the white house anticipated a lot of progress of deal. over this they knew there would be concessions. he was trying to fire up the team, slam-dunking on republicans to make it seem like a partisan fight. i think that
guest: obama has not address the debt ceiling. this was another thing he was going to do. it.not when --he didn't win you have done the revenue and change the estate tax. that is done. you are going into the negotiations without many avenues. there will not negotiate on the debt ceiling. sherrod brown said they were going with tit. whitehouse said the same thing earlier. obama said they want an end to the high jinks. host: what is your take on president obama's role in negotiating so far?...
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our debt. the main driver of debt is healthcare costs and what i'm going to do is going to cure the problem. that's how he sold it i don't think he believed it then. i'm not sure he believes it now. >> just such a good segway because you don't even know that i have these things in my back pocket. [ laughter ] and because i didn't brief you before. >> this is like abbot and costello. >> bret: it really is. we'll end 2012. >> he have been doing the gig for so long don't have to communicate. >> bret: listen to the president talk about entitlements and when he talking to republicans. >> the major driver of our long-term liabilities, everybody here knows is medicare and medicaid and our healthcare spending. nothing comes close. social security we could probably fix the same way tipp o'neal and ronald reagan sat down together and they could figure something out, that is manageable. medicare and medicaid, massive problem down the road. that's where -- that's going to be what our children have to worry
our debt. the main driver of debt is healthcare costs and what i'm going to do is going to cure the problem. that's how he sold it i don't think he believed it then. i'm not sure he believes it now. >> just such a good segway because you don't even know that i have these things in my back pocket. [ laughter ] and because i didn't brief you before. >> this is like abbot and costello. >> bret: it really is. we'll end 2012. >> he have been doing the gig for so long don't...
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obama has got to stop campaigning and start leading. host: a producer with fox news just sent this week. -- this tweet. now, david dreier is retiring. he will not be in congress come thursday. as rules committee chair, he has 35 more hours or so of being the chair, and then a new chair will be coming in. representative tom gray, a republican from georgia, tweets. ryan, california city, calif., independent. caller: even if we pass this resolution and we do not go over the fiscal cliff, the tax hikes, even if they are on people who make $450,000 or less, that is what small businesses are. that would kill them. the capital gains taxes and raise. the bill is like a small book to read today, but i have gotten through the majority of it and it looks like they are just postponing the majority of the issues. we are not going to cut any spending. we're going to raise revenues. is defenseutting revenue, and that is not what the majority of spending goes to any more. it goes to entitlements. we cannot make up for entitlements with tax increases on
obama has got to stop campaigning and start leading. host: a producer with fox news just sent this week. -- this tweet. now, david dreier is retiring. he will not be in congress come thursday. as rules committee chair, he has 35 more hours or so of being the chair, and then a new chair will be coming in. representative tom gray, a republican from georgia, tweets. ryan, california city, calif., independent. caller: even if we pass this resolution and we do not go over the fiscal cliff, the tax...
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president obama has said, they have said here at the white house, at least, you know, he's not going to have that kind of fight again, which suggests he's willing to go over the debt limit and let the country default next time. >> he says that he's not playing that game anymore. let me bring ali into the conversation. the president said i'm not going down that road. we're not going to let the debt ceiling be a major political fight. the country can't stand it. the last time we went through that fight, our credit rating was diminished as all of our viewers recall. not only here but around the world. he says he's not going to do it. at some point, they have to raise the dbt ceiling, otherwise, there will be a technical default. >> a technical default. there's nobody in the world other than rand paul, who thinks we're not going to be able to pay our bills. the united states always has the ability to pay its bills. whether you agree with it or not, we have printing presses. the money may be worth less over time, but the fact is we can keep printing money. there's no danger that the bills
president obama has said, they have said here at the white house, at least, you know, he's not going to have that kind of fight again, which suggests he's willing to go over the debt limit and let the country default next time. >> he says that he's not playing that game anymore. let me bring ali into the conversation. the president said i'm not going down that road. we're not going to let the debt ceiling be a major political fight. the country can't stand it. the last time we went...
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we expect president obama to be briefed on that meeting as well. vice president biden played a key role in negotiations. i am getting details from democratic source who's say the president has played an important role as well. working the phones. apparently last night after vice president biden had spoken to mcconnell, he, the president, a number of staffers met from 1:00 a.m. until 1:45 and sort of hammered out the final details of this deal and then their staffers were up until way past 3:30 this morning. this is something that has been going on overnight while a lot of people have been sloping on the white house and that is the latest we've been hearing. the president waiting to be briefed in the meeting with vice president biden. the big takeaway seems to be no democrats really voiced opposition to what the violation president was saying. it seems like it will get a lot of support. milissa. >> what is your sense -- first of all, this bill will be the product of a lot of compromise. and a lot compromise that people disagree with. it's not over t
we expect president obama to be briefed on that meeting as well. vice president biden played a key role in negotiations. i am getting details from democratic source who's say the president has played an important role as well. working the phones. apparently last night after vice president biden had spoken to mcconnell, he, the president, a number of staffers met from 1:00 a.m. until 1:45 and sort of hammered out the final details of this deal and then their staffers were up until way past 3:30...
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if republicans would refuse to raise the debt ceiling and if obama throws down the gauntlet, i'm not sure we would not hit it. there is a lot of the senators who went into the meeting saying, we cannot go for this. host: we have a tweet. guest: i believe it will but not as much as everybody hoped. obama was asking for $1.2 trillion. there was a major concession on the estate tax. they ended up agreeing to a $5 million cut off and a 40% taxation rate. that is a significant chunk of revenue. host: it seems republicans are nervous as well. this is a conservative blog. "it is an enigmatic riddle for you. you get tax hikes and no spending cuts. in fact, we will spend even more as a result of this deal." guest: i think democrats are coming out on the losing end. the rates have already gone up. they are essentially agreeing to a tax rate and not getting any spending cuts for it. between now and around two, they will get beat up by a lot of their members. there will be sweating through this vote today. host: we have a tweet from bill king. thomas, you are on the air. caller: good morning. ha
if republicans would refuse to raise the debt ceiling and if obama throws down the gauntlet, i'm not sure we would not hit it. there is a lot of the senators who went into the meeting saying, we cannot go for this. host: we have a tweet. guest: i believe it will but not as much as everybody hoped. obama was asking for $1.2 trillion. there was a major concession on the estate tax. they ended up agreeing to a $5 million cut off and a 40% taxation rate. that is a significant chunk of revenue....
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"the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working very closely with congress, and, again, i -- often i'm -- i'm critical for congress for not coming to
"the new york times" says it weakens president obama's hand going forward and may hurt him in the debt ceiling negotiations. he has ruled out any negotiations over the debt ceiling and on monday he vowed that revenue increases must match further spending cuts. but as this deal shows, he often compromises at the last minute. that's the important part. let's leave it there. has president obama showed when his back support against the wall, he will cave? >> the president has been...
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and don't forget, tomorrow, the bulk of the obama care taxes kicks in. that's a trillion dollar in taxes over the next year. there's a lot of things coming tomorrow, including the debt ceiling we're going to crash through that are not good for america. >> does it make any difference for you, congressman, that grover norquist told me about an hour ago, if he were a senator or a member of the house, he would vote in favor of this deal because it does not formally result in tax increases. it results in making permanent the tax cuts from the bush administration 2001-2003. >> it doesn't make them all permanent, just part of those. again, it's the million small businesses that are going to be impacted. they're going to pay more in taxes. they're not going to hire people because you raise their taxes. i have to worry about them. in my district, in kansas, it's small businesses. >> that's only small businesses that make more than $450,000 a year. >> yeah, that's just a million of them. just 1 million of them. i thought washington could come together on one thing
and don't forget, tomorrow, the bulk of the obama care taxes kicks in. that's a trillion dollar in taxes over the next year. there's a lot of things coming tomorrow, including the debt ceiling we're going to crash through that are not good for america. >> does it make any difference for you, congressman, that grover norquist told me about an hour ago, if he were a senator or a member of the house, he would vote in favor of this deal because it does not formally result in tax increases. it...
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remember, obama really wanted to include a debt ceiling increase at least for a year. that's not in there. so that's a big loss for the president, that nobody's really talking about. what that means is the republicans have another bite at the apple here. the debt ceiling has been reached according to the treasury secretary. what that means is they probably got several more weeks to shuffle around federal money to keep the government operating, but that gives republicans another opportunity to try to force big spending cuts. as a sequester, it's been put off for two months, but in two months they have to come up with another way to make cuts. the president says it won't be all spending cuts but it will be some spending cuts. that gives democrats the chance to do the kind of spending reductions they have been talking about for two years. >> what the republicans in the u.s. house are going to vote on is whether or not to increase taxes on individuals at $400,000 or couples at $450,000. the house rejected it when it was at $1 million with plan b. if the republicans didn't
remember, obama really wanted to include a debt ceiling increase at least for a year. that's not in there. so that's a big loss for the president, that nobody's really talking about. what that means is the republicans have another bite at the apple here. the debt ceiling has been reached according to the treasury secretary. what that means is they probably got several more weeks to shuffle around federal money to keep the government operating, but that gives republicans another opportunity to...
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to play that debt ceiling game, or i'm not going to negotiate cuts with the debt ceiling. republicans say, well, they are -- they're going to demand cuts, or they won't raids the debt ceiling -- raise the debt ceiling. this is the frustration among conservatives, that the cuts always come later, they don't come now. and that's why there are going to be a lot of no votes from house republicans. rick: i remember president bush's second term statement that he had collected political capital, and he intended to use it. on the president's side here, how much political capital has he spent on this deal right now? >> well, he certainly spent some. he's going to spend a lot on immigration reform. that's going to be a very difficult fight. he also wants to move energy and gun control. i doubt he has the votes on any major gun control effort, but that's going to move very quickly early next year. so i think he spent some. the polls indicate he's in good standing now -- rick: right. >> but republicans say he's at the highest standing he will be probably for the rest of his term and,
to play that debt ceiling game, or i'm not going to negotiate cuts with the debt ceiling. republicans say, well, they are -- they're going to demand cuts, or they won't raids the debt ceiling -- raise the debt ceiling. this is the frustration among conservatives, that the cuts always come later, they don't come now. and that's why there are going to be a lot of no votes from house republicans. rick: i remember president bush's second term statement that he had collected political capital, and...
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it will be attached to the debt ceiling since it was unattached from the fiscal cliff and we will be talking about this for some time, joe. happy new year to you. >> happy new year to you, brianna, up all night and still ticking. thank you for your work. >>> eight senators voted against the compromise measure. tom harkin, tom carper and michael bennet voted no and mike lee, richard shelby, rand paul, chuck grassley and marco rubio. setting politics aside for a moment answer the question most of you are probably wondering on this new year's day, what does the measure mean for me and my wallet? cnn's christine romans is crunching the numbers. christine? >> joe for 98% income tax rates will not go up to the clinton era levels. it means if you're unemployed and you've got your last unemployment benefits check, the federal unemployment benefits check last friday, will you get another check. unemployment benefits have been extended. if you're a teacher who writes off supplies you buy for your classroom you're able to do that. if you're a doctor you're not getting a pay cut because of your
it will be attached to the debt ceiling since it was unattached from the fiscal cliff and we will be talking about this for some time, joe. happy new year to you. >> happy new year to you, brianna, up all night and still ticking. thank you for your work. >>> eight senators voted against the compromise measure. tom harkin, tom carper and michael bennet voted no and mike lee, richard shelby, rand paul, chuck grassley and marco rubio. setting politics aside for a moment answer the...